Keep this filed under rumor for now but it seems NVIDIA is going to gear up for a price cut on the GTX 400 products. When the GTX 470 launched at $350, some people didn't think it was worth that much when it performed about on par with an ATI HD 5850. Slowly the price on that card dropped to $330 which made it a bit more affordable but still above a 5850 in most cases. The GTX 480 is still in the upper $400s, with some at $500, but a few can be found for $450. However, a pair of GTX 460s running in SLI is still cheaper than the majority of the GTX 480s and will outperform that card by a substantial margin. If the GTX 480 and 470 can drop even lower, say to $300 for the GTX 470 and $400 for the GTX 480, I think NVIDIA will be good for some time.
The odd card out is the GTX 465 which has been dropping from its original $280 launch price down to $240. That price will compete with the GTX 460 but seeing as how the 460 performs about the same while producing less heat and using less power it makes it hard to recommend the GTX 465 over it. Now, the GTX 465 could compete at a lower price point, say $230 or a bit below, but then NVIDIA may drop the price of the 768MB GTX 460 to further differentiate that from the 1GB version. The 768MB could drop below $200 but then I think that would compete with NVIDIA's upcoming GTS 450 card.
This all gets a bit murky but NVIDIA is slowly getting backed into a corner and needs to compete with AMD/ATI in order to stay afloat. Time will tell what happens, but if you are in the market for a new video card, I think I would wait to see how low the prices go on the GTX 400 series before settling on NVIDIA or ATI.